The inaugural edition of the Chartered Institute of Bankers of Nigeria (CIBN) Generation Next Forum ignited an atmosphere of anticipation and excitement as Dr. Ken Opara, the President and Chairman of CIBN, took to a brightly illuminated stage to deliver the opening remarks. This visionary event, designed to secure the productivity and prosperity of a technologically driven future, offered a platform to delve into the critical implications of the Fifth Industrial Revolution on the banking and finance sector, especially for the young generation.
The focus of the event was to provide a robust platform for stakeholders to explore the pivotal aspects of the Fifth Industrial Revolution and its profound ramifications for the banking and finance industry. This event resonated particularly with the youth, vibrant with energy, who gathered at the Queens Park Events Center in Victoria Island, Lagos. Overflowing halls and virtual attendees attested to the fervor generated by presenters and exhibitors.
The event received the esteemed presence of notable figures, including the Deputy Governor of Lagos State, Dr. Kadiri Hamzat, who represented the Executive Governor of Lagos State, Mr. Babajide Sanwo-Olu. Also in attendance was the Acting Governor of the Central Bank of Nigeria, Mr. Folashodun Shonubi, FCIB, along with other industry stakeholders. Their participation lent credence to the theme of the event: “Industry 5.0 Banking Revolution: Insights for the Next Generation.”
At the heart of the discussions was the recognition of the potential impact of the youth on Nigeria’s banking industry and the broader economy. Dr. Opara highlighted the significant role that the youth population plays, emphasizing Nigeria’s status as the world’s largest in terms of young people, with a median age of 18.1 years and nearly 70 percent under the age of 30. The future, according to him, unequivocally belongs to this dynamic segment of the population.
Dr. Opara delved into the essence of the event, asserting that it marked a monumental stride in the pursuit of excellence and innovative solutions within the banking and finance sector. Unlike previous revolutions, the Fifth Industrial Revolution transcends technological boundaries, encompassing sustainability, human-centeredness, and environmental concerns. The focus shifts from mere technological transformation to the collaboration between humans and machines for the greater welfare of stakeholders, spanning employees, customers, organizations, and society at large.
Governor Sanwo-Olu acknowledged the timeliness and relevance of the event’s theme, recognizing the youth’s pursuit of a fulfilling and rewarding career in various sectors, including banking. He reiterated the government’s dedication to creating an environment conducive to the growth and development of critical sectors, especially banking, in Lagos State. As a hub of commerce and finance in Africa, Lagos holds a strategic position in embracing and leveraging Industry 5.0.
A lineup of speakers enriched the event, including notable figures such as comedian Alibaba, Mitchell Elegbe (Founder/CEO, Interswitch), Jacob Stanley (CEO, Stanbic IBTC and VP of FintechNGR), Akin Morakinyo (Registrar/Chief Executive, CIBN), Yvonne Johnson (MD/Co-Founder, Indicina), Eizu Uwaoma (Founder & CEO, Hexavian Group), Ade Bajomo (President, FintechNGR), Nefa Etomi (Head, Expansion Strategy and Operations, Paystack), Emmanuela Tijani (Sterling Bank), and Iyin Aboyeji (Founding Partner, Future Africa).
The event marked the kickoff of the Chartered Institute of Bankers of Nigeria’s 60th-anniversary celebration, accompanied by the unveiling of the anniversary logo. The symbolism behind the logo mirrors the growth, prestige, and achievements of the banking industry over six decades. The gold hues reflect the industry’s esteemed position, while the stars signify achievements and decades. The event affirmed the institute’s commitment to nurturing professionalism in banking and supporting economic vitality.
The CIBN Generation Next Forum not only illuminated the transformative potential of Industry 5.0 but also encapsulated the pivotal role of collaboration, innovation, and youth empowerment in shaping Nigeria’s banking landscape. As participants and stakeholders departed the event, the resonance of a promising future echoed – one led by empowered youth, fortified by innovation, and driven by a banking sector poised for growth and global prominence.
